Seven Eight Capital LP Invests $213,000 in American Express (NYSE:AXP)

Seven Eight Capital LP acquired a new stake in shares of American Express (NYSE:AXP) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 936 shares of the payment services company’s stock, valued at approximately $213,000.

A number of other large investors also recently bought and sold shares of the business. Norges Bank bought a new position in shares of American Express in the 4th quarter worth $1,112,747,000. Artisan Partners Limited Partnership raised its holdings in American Express by 11.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock worth $909,575,000 after purchasing an additional 496,153 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of American Express by 21.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock valued at $713,202,000 after buying an additional 667,695 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of American Express by 8.2% in the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after buying an additional 195,876 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. grew its position in shares of American Express by 7.4% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,067,858 shares of the payment services company’s stock worth $387,392,000 after buying an additional 142,763 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In related news, insider Anna Marrs sold 3,592 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the sale, the insider now owns 19,932 shares of the company’s stock, valued at approximately $4,602,896.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Quinn Jessica Lieberman sold 3,141 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $232.36, for a total value of $729,842.76. Following the transaction, the executive vice president now owns 258 shares in the company, valued at $59,948.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anna Marrs sold 3,592 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the sale, the insider now owns 19,932 shares of the company’s stock, valued at $4,602,896.76. The disclosure for this sale can be found here. Insiders have sold 138,844 shares of company stock worth $32,404,735 in the last quarter. Corporate insiders own 0.12% of the company’s stock.

American Express Stock Performance

AXP opened at $239.84 on Thursday. The stock has a market cap of $170.50 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.38 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.62. The firm has a fifty day moving average price of $236.16 and a 200 day moving average price of $223.15. American Express has a 1 year low of $140.91 and a 1 year high of $253.73.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same period in the prior year, the company posted $2.89 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts anticipate that American Express will post 13.16 earnings per share for the current year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a $0.70 dividend. The ex-dividend date is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.17%. American Express’s payout ratio is 23.06%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AXP shares. HSBC raised their target price on shares of American Express from $232.00 to $239.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Morgan Stanley boosted their target price on American Express from $222.00 to $226.00 and gave the stock an “equal weight” rating in a research note on Monday, April 22nd. BTIG Research started coverage on American Express in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Barclays boosted their price target on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $230.70.

American Express Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.